Stock Traders Purchase High Volume of Intuitive Machines Call Options (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) was the recipient of some unusual options trading activity on Tuesday. Traders bought 52,434 call options on the company. This is an increase of 14% compared to the average volume of 45,922 call options.

Intuitive Machines Stock Performance

LUNR stock opened at $11.63 on Wednesday. Intuitive Machines has a one year low of $3.15 and a one year high of $24.95. The stock has a market capitalization of $2.07 billion, a PE ratio of -3.96 and a beta of 1.32. The company has a fifty day moving average of $8.04 and a 200-day moving average of $13.07.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. Equities analysts forecast that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. Bank of America initiated coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target for the company. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research note on Friday, March 7th. Benchmark restated a “buy” rating and issued a $16.00 target price on shares of Intuitive Machines in a research note on Tuesday, March 25th. Finally, B. Riley restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Insider Activity at Intuitive Machines

In related news, CFO Peter Mcgrath sold 37,906 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total transaction of $292,255.26. Following the completion of the sale, the chief financial officer now owns 438,992 shares in the company, valued at $3,384,628.32. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the business. Philadelphia Trust Co. increased its holdings in Intuitive Machines by 10.0% during the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock valued at $82,000 after acquiring an additional 1,000 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Intuitive Machines during the 1st quarter valued at about $2,297,000. Zazove Associates LLC purchased a new position in Intuitive Machines during the 1st quarter valued at about $726,000. Caitong International Asset Management Co. Ltd increased its holdings in Intuitive Machines by 23,206.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 73,649 shares of the company’s stock valued at $549,000 after acquiring an additional 73,333 shares in the last quarter. Finally, Bulltick Wealth Management LLC increased its holdings in Intuitive Machines by 53.0% during the 1st quarter. Bulltick Wealth Management LLC now owns 32,900 shares of the company’s stock valued at $245,000 after acquiring an additional 11,400 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.